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China's yuan weakens to 6.4853 against USD Friday

Jun 10, 2011 Trade

The Chinese currency Renminbi, or the yuan,weakened by 23 basis points to 6.4853 per U.S. dollar on Friday, according to the China Foreign Exchange Trading system.

On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.

The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.